LONDON (AP) — Stock markets rallied on Friday, with both the Dow and S&P hitting new highs, after an unexpectedly strong U.S. jobs report indicated the world's largest economy is not slowing down, as some had feared.

By Steve Holland and Mark Felsenthal MEXICO CITY (Reuters) - President Barack Obama told the Mexican people on Friday that he sees a "new Mexico" emerging, with a deepening democracy and growing economy, and that Mexico and the United States should be viewed as equal partners. "I have come to Mexico because it is time to put old mindsets aside," Obama said in a speech to university students. "It's time to recognize new realities, including the impressive progress in today's Mexico. ...

ABUJA (Reuters) - Nigeria's telecoms regulator has ordered South African mobile operator MTN to charge customers the same rate whether calling rival operators or other MTN users, in order to reduce its market dominance, it said on Friday. MTN has 44 percent of the mobile phone market in Africa's second biggest economy and charges its customers three times more to call rival operators than for calls between MTN users, the Nigerian Communications Commission said. "This is indicative of the likely establishment of a calling club for MTN subscribers," NCC said in a statement on its website. ...

By John Tilak TORONTO (Reuters) - Canada's main stock index closed higher on Friday, but off the three-week high it hit earlier on the day when a stronger-than-expected U.S. jobs report galvanized the market. Still, the advance pushed the benchmark index into positive territory on the year and helped it clock a gain of 1.8 percent on the week. Data showed U.S. employment rose more than expected in April, pushing the unemployment rate to a four-year low of 7.5 percent and easing concern that the economy faced a sharp slowdown. ...

By Ryan Vlastelica NEW YORK (Reuters) - The Dow and S&P 500 advanced to all-time closing highs on Friday, with major indexes jumping 1 percent after an unexpectedly strong April jobs report eased concerns about an economic slowdown. The S&P closed above 1,600 and the Dow briefly traded above 15,000 for the first time as stocks extended this year's rally. Bellwether companies, including Chevron Corp , Boeing Co and Johnson & Johnson , reached 52-week highs. The Russell 2000 stock index of mid- and small cap companies also hit a record, confirming the broadness of the rally. ...

WASHINGTON (AP) — The U.S. economy showed last month why it remains the envy of industrialized nations: In the face of tax increases and federal spending cuts, employers added a solid 165,000 jobs in April — and far more in February and March than anyone thought.